Icon Advisers Inc. Co. boosted its position in shares of Eagle Materials, Inc. (NYSE:EXP) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,136 shares of the construction company’s stock after buying an additional 26,100 shares during the quarter. Eagle Materials makes up 1.0% of Icon Advisers Inc. Co.’s holdings, making the stock its 27th biggest position. Icon Advisers Inc. Co. owned about 0.28% of Eagle Materials worth $11,137,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its stake in Eagle Materials by 18.3% during the first quarter. Advisory Services Network LLC now owns 2,851 shares of the construction company’s stock worth $240,000 after purchasing an additional 441 shares during the period. Janus Henderson Group PLC raised its stake in Eagle Materials by 21.8% during the first quarter. Janus Henderson Group PLC now owns 6,535 shares of the construction company’s stock worth $551,000 after purchasing an additional 1,168 shares during the period. Weitz Investment Management Inc. purchased a new position in Eagle Materials during the first quarter worth about $6,618,000. NEXT Financial Group Inc purchased a new position in Eagle Materials during the second quarter worth about $294,000. Finally, Linscomb & Williams Inc. raised its stake in shares of Eagle Materials by 13.4% in the 1st quarter. Linscomb & Williams Inc. now owns 8,525 shares of the construction company’s stock valued at $719,000 after acquiring an additional 1,007 shares during the period. Institutional investors own 95.66% of the company’s stock.
In related news, insider Keith W. Metcalf sold 10,980 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $81.33, for a total value of $893,003.40. Following the completion of the sale, the insider now owns 58,087 shares in the company, valued at approximately $4,724,215.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ed H. Bowman, Jr. sold 2,492 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $84.52, for a total transaction of $210,623.84. Following the completion of the sale, the director now owns 16,386 shares of the company’s stock, valued at approximately $1,384,944.72. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus set a $101.00 price target on shares of Eagle Materials and gave the company a “buy” rating in a research note on Wednesday, July 31st. SunTrust Banks set a $95.00 price target on shares of Eagle Materials and gave the company a “buy” rating in a research note on Wednesday, July 31st. TheStreet downgraded shares of Eagle Materials from a “b” rating to a “c+” rating in a research note on Friday, May 17th. Northcoast Research downgraded shares of Eagle Materials from a “neutral” rating to a “sell” rating and set a $76.00 price target on the stock. in a research note on Monday, July 1st. Finally, Zacks Investment Research downgraded shares of Eagle Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $93.88.
EXP traded up $0.17 during trading hours on Friday, hitting $80.59. 1,963 shares of the company’s stock were exchanged, compared to its average volume of 535,426. Eagle Materials, Inc. has a 12-month low of $57.00 and a 12-month high of $96.93. The firm has a 50 day moving average of $86.44 and a 200 day moving average of $83.85. The firm has a market cap of $3.53 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. The company has a current ratio of 2.42, a quick ratio of 1.05 and a debt-to-equity ratio of 0.85.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.27). Eagle Materials had a return on equity of 17.21% and a net margin of 3.20%. The firm had revenue of $370.60 million for the quarter, compared to analyst estimates of $376.95 million. During the same quarter last year, the firm earned $1.38 EPS. The company’s revenue was down 5.9% on a year-over-year basis. As a group, research analysts expect that Eagle Materials, Inc. will post 5.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, October 3rd. Eagle Materials’s payout ratio is 7.92%.
About Eagle Materials
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
Want to see what other hedge funds are holding EXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Materials, Inc. (NYSE:EXP).
Receive News & Ratings for Eagle Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Materials and related companies with MarketBeat.com's FREE daily email newsletter.